G20 didn't discuss US-China trade tensions

WASHINGTON: The Group of 20 finance ministers avoided discussion of the US-China trade dispute on Friday, despite repeated comments from officials about the danger it poses to the global economy.

"We didn't have a discussion on specific measures on trade," Argentine Treasury Minister Nicolas Dujovne told reporters after the meeting. "The G20 is not the place to discuss specific measures. That's the WTO."

It was a surprising omission for the group that was key to shepherding the global economy through the 2008 financial crisis and preventing another depression.

But Dujovne said, "We have to also recognize the limitations that we as a group have...and try to find a consensus even if the consensus is more limited than we want."

The ministers did express concern over the growth of "inward looking policies," he said, using a frequent euphemism for trade protectionism.

The G20 meeting is held as part of the spring meetings of the International Monetary Fund and World Bank.

The gathering of finance ministers and central bank governors has been overtaken by the escalating tariff threats between the United States and China.

The IMF has singled out the trade tensions as a key downside risk to the otherwise solid global recovery.

IMF chief Christine Lagarde has said the dispute undermines confidence and could choke off investment.

She has urged governments to "steer clear of protectionism" and to resolve disputes through dialogue rather than unilateral action.

"Investment and trade are two key engines that are finally picking up. We don't want to damage that," she said at a Thursday press briefing to open the spring meetings.